Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Unlike most juniors, which have an option to earn an interest in a single property or a few scattered properties in various areas or countries, Golden Goliath controls an entire old mining camp, or district, that covers an area of 15 by 25 kilometres, with numerous past producing gold and silver mines dating back to the time of the Spaniards. Golden Goliath’s Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.
Golden Goliath provides exploration update
Golden Goliath Resources Ltd. (TSX-V: GNG, (PINK SHEETS: GGTHF) provided the markets with an update of its 2008 exploration projects in Mexico.
Golden Goliath’s Uruachic Mining District projects are operated by the company. This includes diamond drilling on three areas, underground rehabilitation and sampling on the San Timoteo and Las Bolas, plus geological mapping, Induced Polarization and Magnetic geophysical surveys in preparation for drilling on the San Timoteo II claim.
Golden Goliath's La Cruz property is under option to Pan American Silver's Mexican subsidiary, Minera Corner Bay. Under the terms of the agreement Minera has the right to earn a 60% interest in La Cruz by making payments totaling US $300,000 and spending US $450,000 on the property over a period of three years.
A Natural Source-Frequency Magneto telluric Imaging survey has also been conducted, and its final report are still pending. Pads have been prepared for an initial planned diamond drill program.
Golden Goliath has also entered into an option agreement with Comstock capital on the Corona and Chamizal properties. Under the terms of the agreement Comstock has the right to earn a 60% interest in the Corona property, and has conducting exploration work there since last summer. Details of the results will be disclosed once the 43-101 report has been filed.
Golden Goliath is well financed, with over $4.3 million currently in the treasury.
Other Golden Goliath articles
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01/12/08 Golden Goliath's President, Paul Sorbara, Talks to Proactive Investors
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14/01/08 Golden Goliath Resources – An Emerging Mining Goliath in Mexico?
Other Golden Goliath news
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03/12/08 Golden Goliath Intercepts High Grade Silver And Initiates Mineral Inventory Estimation At Las Bolas, Mexico
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19/11/08 Paul Sorbara of Golden Goliath Resources talks to Proactiveinvestors